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LATEST NEWS UPDATES | India’s GDP growth contracts 23.9%: What is the economics behind the math? -Udit Misra and Nushaiba Iqbal

India’s GDP growth contracts 23.9%: What is the economics behind the math? -Udit Misra and Nushaiba Iqbal

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published Published on Sep 1, 2020   modified Modified on Sep 1, 2020

-The Indian Express

India GDP Q1 Data: Demand from individual citizens and private businesses plummeted in Q1, increase in government’s demand made up for just 6% of this fall

Although most people expected India’s GDP to show substantial contraction when the Ministry of Statistics and Programme Implementation (MoSPI) released the data for the first quarter (April, May, June) of the current financial year on Monday, the broad consensus was that the decline would not exceed 20%. As it turns out, the GDP contracted by 24% per cent in Q1.

In other words, the total value of goods and services produced in India in April, May and June this year is 24% less than the total value of goods and services produced in India in the same three months last year.

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The Indian Express, 1 September, 2020, https://indianexpress.com/article/explained/gdp-contraction-23-9-the-economics-behind-the-math-6578046/


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